Crescent Energy (NYSE:CRGY) Shares Acquired by Amalgamated Bank

Amalgamated Bank grew its stake in Crescent Energy (NYSE:CRGY - Free Report) by 919.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,961 shares of the company's stock after purchasing an additional 45,058 shares during the quarter. Amalgamated Bank's holdings in Crescent Energy were worth $730,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Pacer Advisors Inc. bought a new stake in Crescent Energy during the fourth quarter valued at $170,905,000. Bank of New York Mellon Corp grew its position in shares of Crescent Energy by 55.5% during the 4th quarter. Bank of New York Mellon Corp now owns 9,261,876 shares of the company's stock valued at $135,316,000 after buying an additional 3,305,833 shares during the last quarter. State Street Corp grew its position in shares of Crescent Energy by 78.6% during the 3rd quarter. State Street Corp now owns 6,783,997 shares of the company's stock valued at $74,285,000 after buying an additional 2,986,468 shares during the last quarter. Jennison Associates LLC raised its stake in Crescent Energy by 234.4% during the fourth quarter. Jennison Associates LLC now owns 4,785,326 shares of the company's stock worth $69,914,000 after acquiring an additional 3,354,362 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Crescent Energy by 0.9% in the third quarter. The Manufacturers Life Insurance Company now owns 3,698,678 shares of the company's stock worth $40,501,000 after acquiring an additional 33,626 shares during the last quarter. Institutional investors own 52.11% of the company's stock.

Wall Street Analyst Weigh In

CRGY has been the topic of a number of research reports. Siebert Williams Shank began coverage on Crescent Energy in a research report on Monday, February 3rd. They set a "buy" rating on the stock. Stephens restated an "overweight" rating and set a $17.00 price objective on shares of Crescent Energy in a research note on Monday. Truist Financial raised their target price on Crescent Energy from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Mizuho upped their price target on shares of Crescent Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Finally, Raymond James increased their price objective on shares of Crescent Energy from $22.00 to $23.00 and gave the stock a "strong-buy" rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $17.60.

Crescent Energy Price Performance

Shares of NYSE:CRGY traded down $0.16 during trading on Thursday, reaching $10.89. The company had a trading volume of 2,149,450 shares, compared to its average volume of 2,747,175. Crescent Energy has a twelve month low of $9.88 and a twelve month high of $16.94. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $2.48 billion, a PE ratio of 17.56 and a beta of 2.16. The firm's fifty day moving average is $14.91 and its 200 day moving average is $13.50.

Crescent Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date is Wednesday, March 12th. Crescent Energy's dividend payout ratio is presently -69.57%.

About Crescent Energy

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.